The prospects of getting a loan seem nonexistent for people with poor credit ratings -- do not even mention trying to get $10,000 loan. This view is mistaken, there are plenty of non-traditional lenders who can help a bad credit loan seeker.

Tip One: Search for a Friendly Loan

This type of loan is called a Friendly Loan because that is exactly what it is. You need to set aside your ego and approach a friend or family member who is on sound financial footing and ask them for the loan. In all honesty, getting a friendly loan is going to be easier than borrowing from other lenders. You do not have to undergo a background or credit check or supply any form of documentation as you would for any other $10,000 bad credit loan. Even if you are presently unemployed, family members understand the challenges you are facing. Just be sure that everything regarding terms and interest rates are put in writing and signed by all the parties to avoid any future conflict.

If you cannot bring yourself to ask a friend or family member for a $10,000 loan, your next best bet is to approach your employer. Or, there may be a credit union that serves your company. Usually there is no credit check and little documentation is required to prove who you are. Also, loans can be deducted directly from your paycheck. This may be your second best route to getting a $10,000 bad credit loan.

Tip Three: Search for a Collateral Loan

If you own a home, getting an unsecured $10,000 bad credit loan is even more possible. You put your house up as collateral and negotiate with the lender for the best possible interest rate. This is possible even if your credit report is not the best it could be.

Tip Four: Search for a Personal Loan

If you do not have any fixed assets, do not despair. Look for licensed lenders who specialize in offering bad credit loans. Even though you may need the cast badly, understand that these type of lenders charge very high interest rates. Think hard before you sign on the dotted line. Do you really need the money? Are you willing to absorb the interests costs as part of the burden to get a $10,000 bad credit loan?

Tip Five: Search for a Payday Loan

Another option you may want to consider when buying a $10,000 bad credit loan is the payday loan. This sort of loan requires no credit check and is rather easy to get if you are gainfully employed. You will need to give the lender your social security number and other documentation to prove your identity. You can usually land this type of loan within one business day.

Not Funny Money

Getting a $10,000 bad credit personal loan is not really difficult if you take the positive approach. Just be sure you have the financial wherewithal pay if off in a timely manner. Loans of this type should be considered thoroughly before you obligate yourself. Do not get a loan of this type for fun. Be responsible.